Venezuelan Congressman Carlos Ramos is beginning to delve into details about the PDVSA sponsorship of the WilliamsF1 team. According to Ramos, no-one in Venezuela – apart from a handful of Chaves supporters – know the details of the sponsorship: what has been paid and promised the team. According to Venezuelan law, no public money can be committed to such projects without the approval of the Venezuelan Congress. Neither Hugo Chavez, nor PDVSA, can unilaterally spend public monies without government approval. Ramos says that the contract between PDVSA and Williams F1 team might be illegal, as he can find no record of the contract having ever been discussed, or approved, by Congress.
Ramos says that the reports in Venezuela have suggested that the deal could be worth as much as $225 million over the full term, depending on the success of the team.